BMW 2003 Annual Report Download - page 134
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4
Preface
Ladies and Gentlemen,
2003 was a very successful year for the BMW Group. As car
sales rose to new highs in all our brands, the Group set a new
record. In the Motorcycles segment, unit sales exceeded
the previous year’s level for the eleventh time in succession.
The Financial Services segment continues to grow, with the
number of new contracts increasing to an all-time high.
At the same time, we have succeeded in generating the
same high level of revenues as in the previous year, despite
the high level of expenditure for the product and market
offensive.This result is all the more welcome considering
that 2003 was marked by international political crises and
a difficult economic environment. It was thus anything but
ahospitable climate in which we set out to attain our ambi-
tious objectives.
The BMW Group’s success in 2003 is renewed evidence
of the Company’s strength and efficiency.The BMW Group
stands for strong brands, fascinating vehicles and an un-
compromising commitment to making good on every aspect
of the premium claim. The Company depends on the dedi-
cation and the skills of its employees who have time and
again enabled the Company to achieve outstanding results,
and who have made a decisive contribution to our success
in 2003 as well.
For the BMW Group the past year was especially marked
by product life cycles and model activities. Never before
in the history of our Company have we introduced as many
new products as in 2003. This wealth of innovation is the
Helmut Panke
Chairman of the Board of
Management